A state judge in Austin, Texas ruled Monday that State Insurance Commissioner Mike Geeslin was within his authority when he ordered State Farm Insurance to refund about $350 million to policyholders for what he called excessive premiums charged as early as 2003, the Houston Chronicle reports.

Texas State District Judge Tim Sulak ruled after hearing two hours of arguments from attorneys for the state insurance department, the Office of Public Insurance Counsel and State Farm, according to The Dallas Morning News. "There is substantial evidence to support the commissioner's decision, and the decision is upheld," Sulak declared.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access